Crypto analyst Lark Davis has predicted a $7.5 target for the SUI price, highlighting bullish indicators. This comes after Mill City Ventures announced a massive $450 million commitment to build the most extensive publicly traded SUI treasury.
Analyst Bullish On SUI Price After Treasury Announcement
In a recent X post, crypto analyst Lark Davis predicted a $7.5 target for the SUI price. He highlighted that SUI had a breakout above a stubborn downtrend line with volume surging as a result. Davis suggested that if the token holds above this critical technical level, Fibonacci projections could see the token hit its target.
The volume surge could be attributed to the recent announcement by Mill City Ventures regarding its SUI treasury plans. Many experts are now bullish on the token’s price trajectory.
Booming DeFi metrics support the SUI price narrative in addition to the treasury push. In just one year, the network’s total value increased by nearly 400% to reach an all-time high of $2.2 billion. To add, Canary’s SUI ETF application had advanced, signaling bullish momentum.
At press time, SUI trades around $3.94, slightly off recent highs but still well above earlier lows. Technical charts show the price consolidating around a support band near $3.94–$4.01.
Mill City Ventures Makes $450 Million Bet on SUI
Mill City Ventures confirmed it raised $450 million through a private placement, aiming to use 98% of the proceeds to purchase SUI tokens as its primary treasury reserve asset. The goal of this move is to combine the growth of crypto-native companies with a publicly traded structure that provides traditional investors with daily liquidity.
Key investors in the funding round included Electric Capital, ParaFi, Galaxy Digital, and Pantera Capital. The Sui Foundation and the London-based hedge fund Karatage Opportunities also invested significant amounts, showing their belief in the long-term potential of the ecosystem.
Mill City plans to buy the token both from open markets and via direct agreements with the Sui Foundation. This would position the company as the first publicly listed SUI treasury backed by foundation support. This came after Grayscale laid out SUI’s bullish case as more institutions are now recognizing its potential.
We believe that Sui is well-positioned for mass adoption with the speed and efficiency institutions require for crypto at scale, plus the technical architecture capable of supporting AI workloads while maintaining security and decentralization. Stephen Mackintosh, the proposed CIO of Mill City, said, highlighting why the company chose SUI over other networks.
This Mill City Ventures strategy could create a Nasdaq-listed gateway for institutions and retail to gain direct SUI exposure. As Adeniyi Abiodun, Co-Founder of Mysten Labs, shared, “The future belongs to crypto, AI, and stablecoins, and they all need infrastructure that can handle real scale. That’s Sui.”
Michael Adeleke
Michael Adeleke is a passionate crypto journalist known for breaking down complex blockchain concepts and market trends into clear, engaging narratives. He specializes in delivering timely news and sharp market analysis that keeps crypto enthusiasts informed and ahead of the curve. With an engineering background and a degree from the University of Ibadan, Michael brings analytical depth and precision to every piece he writes.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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